Tecumseh Mayor Gary McNamara says it's time to move on after the Canadian Mortgage and Housing Corporation confirmed the loss of $3.2 million in funding.
The CMHC determined the town breached their agreement when council voted not to allow four-plexes as of right.
"I'm a firm believer in democracy and council made a decision and I respect that," said McNamara. "From that point on, we need to move on."
McNamara noted the town tried to negotiate with the CMHC after council made its decision in the spring, but the move to end the agreement didn't come as a surprise.
"The end game is about building houses, and building affordable housing and building opportunities for people. That should be the focus for all of us," said McNamara. "The rigidity of the program, I feel, didn't allow municipalities to achieve the goals."
The $3.2 million was earmarked for stormwater retention ponds in the greenfield development in the area of Manning Road.
That money will now come out of reserves, or the town will need to take on additional debt to make up the funding shortfall.
"There's obviously decisions that have to be made as we move forward. When the project is completed, when the storm water retention is done, then we'll have to figure out which we feel more comfortable in addressing," said McNamara.
